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The rand fell to a 12-month low on Wednesday, trading at 15.9175 per dollar, 0.5% weaker. The move followed a stronger dollar on expectations of Federal Reserve rate hikes and contagion from the struggling Turkish lira.
Dollar strength and expected US tightening pull capital from higher-risk emerging markets, which weakens the rand and raises the local cost of dollar-priced feed imports.
reuters.comNov 24, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
